Thermo Fisher (TMO) Goes Out of 'Comfort Zone' in Latest Bid for Life Tech (LIFE)
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Life Technologies (Nasdaq: LIFE) is ticking higher early Monday following headlines out earlier that it might be getting a better offer from Thermo Fisher Scientific (NYSE: TMO).
Reports out over the weekend had Thermo Fisher might be offering over $75 per share for Life Technologies, or nearly a 12 percent premium to Friday's close at $68 flat, with more headlines today that the bid might be closer to $76 per share.
Chatter over Life Technologies has been heating up recently. Last week, word was that Thermo Fisher might limit its offering range to $65 - $70 for Life Technologies, while a consortium of private equity firms were also said to be mulling a bid in the mid- to upper-$60 range. Private equity firms were said to include Blackstone Group LP (NYSE: BX), Carlyle Group LP (Nasdaq: CG), and Singapore's state investor Temasek Holdings.
Life Technologies was said to begin exploring the possibility of a sale early in the year, with Jefferies thinking a price of $50 - $60 per share might be fair in a leveraged buyout.
Ahead of the bell, shares of Life Technologies are up 8.9 percent.
Reports out over the weekend had Thermo Fisher might be offering over $75 per share for Life Technologies, or nearly a 12 percent premium to Friday's close at $68 flat, with more headlines today that the bid might be closer to $76 per share.
Chatter over Life Technologies has been heating up recently. Last week, word was that Thermo Fisher might limit its offering range to $65 - $70 for Life Technologies, while a consortium of private equity firms were also said to be mulling a bid in the mid- to upper-$60 range. Private equity firms were said to include Blackstone Group LP (NYSE: BX), Carlyle Group LP (Nasdaq: CG), and Singapore's state investor Temasek Holdings.
Life Technologies was said to begin exploring the possibility of a sale early in the year, with Jefferies thinking a price of $50 - $60 per share might be fair in a leveraged buyout.
Ahead of the bell, shares of Life Technologies are up 8.9 percent.
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